Trustmark (NASDAQ:TRMK) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other equities analysts have also weighed in on TRMK. Truist Financial increased their target price on shares of Trustmark from $29.00 to $30.00 and gave the stock a hold rating in a research report on Monday, April 1st. Piper Sandler restated a neutral rating and issued a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. TheStreet upgraded shares of Trustmark from a c+ rating to a b rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Trustmark from $27.00 to $30.00 and gave the company a market perform rating in a research report on Friday, January 26th. Finally, DA Davidson reiterated a neutral rating on shares of Trustmark in a research report on Monday, January 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $29.67.

Trustmark Stock Performance

Shares of TRMK stock opened at $26.43 on Thursday. The firm has a 50-day moving average of $26.83 and a 200-day moving average of $25.11. The company has a market cap of $1.62 billion, a P/E ratio of 9.75 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. Trustmark has a one year low of $18.96 and a one year high of $28.65.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $189.85 million during the quarter, compared to the consensus estimate of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Equities research analysts forecast that Trustmark will post 2.44 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, February 29th. Trustmark’s payout ratio is 33.95%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Trustmark by 1.3% in the second quarter. FMR LLC now owns 27,900 shares of the financial services provider’s stock worth $814,000 after buying an additional 349 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of Trustmark by 2.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 15,097 shares of the financial services provider’s stock worth $528,000 after buying an additional 389 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Trustmark by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,981 shares of the financial services provider’s stock worth $837,000 after buying an additional 399 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Trustmark by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,861 shares of the financial services provider’s stock worth $930,000 after buying an additional 410 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Trustmark by 0.3% in the fourth quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider’s stock worth $4,657,000 after buying an additional 546 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.